Cambium Networks (NASDAQ:CMBM – Get Free Report) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of -0.190–0.140 for the period, compared to the consensus estimate of -0.030. The company issued revenue guidance of $43.0 million-$48.0 million, compared to the consensus revenue estimate of $58.7 million. Cambium Networks also updated its FY 2024 guidance to -1.040–0.870 EPS.
Cambium Networks Stock Performance
Shares of NASDAQ:CMBM traded down $0.16 during trading on Friday, hitting $1.70. The stock had a trading volume of 140,272 shares, compared to its average volume of 118,545. The company has a quick ratio of 1.33, a current ratio of 1.97 and a debt-to-equity ratio of 1.08. Cambium Networks has a 12-month low of $1.69 and a 12-month high of $9.96. The stock has a market capitalization of $47.42 million, a price-to-earnings ratio of -0.50 and a beta of 0.95. The stock has a 50-day simple moving average of $2.46 and a two-hundred day simple moving average of $3.49.
Cambium Networks (NASDAQ:CMBM – Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.21). Cambium Networks had a negative net margin of 50.94% and a negative return on equity of 56.10%. The company had revenue of $42.34 million for the quarter, compared to analysts’ expectations of $45.57 million. On average, equities research analysts expect that Cambium Networks will post -0.94 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Read Our Latest Stock Report on CMBM
About Cambium Networks
Cambium Networks Corporation, together with its subsidiaries, engages in the design, development, and manufacture of wireless broadband and Wi-Fi networking infrastructure solutions. The company offers point-to-point fixed wireless backhaul and point-to-multipoint fixed wireless solutions; and enterprise solutions comprising cnMatrix cloud-managed wireless-aware switching solution, Xirrus Wi-Fi solutions, and Wi-Fi 6/6E access points which support cnMaestro and Xirrus XMS management.
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